An eligible member can apply for insurance and has two options for cover – (1) Death Only cover; or (2) Death and Total and Permanent Disablement cover. The member is given flexibility regarding the amount of insurance cover they can apply for up to $3 million, however approval is not guaranteed and is dependent on the results of a medical assessment. The cost of insurance cover is based on the member’s age, occupation, gender, smoker status and the type and amount of cover requested, and is deducted directly from the member’s super account.

BT Lifetime – Flexible Pension

Access managed funds across a range of major asset classes to create an investment that suits your financial goals

Flexible pension payments

Choose the level of payments you want to receive (above the government minimum) and how often you want to be paid each year with a choice of monthly, quarterly or yearly payments. You also have the option to make lump sum withdrawals to meet any large expenses.

The information shown does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice. You should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto.

An investment in BT Lifetime – Personal Super and/or BT Lifetime - Flexible Pension is not an investment in, deposit with or any other liability of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. None of the Bank, any other company in the Westpac Group or any appointed investment manager stands behind or otherwise guarantees the capital value or investment performance of BT Lifetime – Personal Super and BT Lifetime - Flexible Pension.

The information shown is general information only, it does not constitute any recommendation or advice; it has been prepared without taking into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice.

The information shown on this site is general information only, it does not constitute any recommendation or advice; it has been prepared without taking into account your personal objectives, financial situation or needs and you should consider its appropriateness with regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice. You should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto.